Oppenheimer Boosts Citigroup (NYSE:C) Price Target to $92.00

Citigroup (NYSE:C) had its price objective lifted by Oppenheimer from $87.00 to $92.00 in a report published on Wednesday, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

C has been the topic of a number of other reports. Evercore ISI lifted their target price on Citigroup from $60.00 to $62.00 and gave the stock an in-line rating in a research note on Wednesday, July 3rd. Morgan Stanley lifted their price objective on shares of Citigroup from $79.00 to $86.00 and gave the stock an overweight rating in a research report on Monday, September 30th. Piper Sandler increased their target price on shares of Citigroup from $70.00 to $73.00 and gave the company an overweight rating in a research report on Monday, July 15th. Argus lifted their price target on shares of Citigroup from $70.00 to $72.00 and gave the stock a buy rating in a report on Monday, July 15th. Finally, Royal Bank of Canada increased their price objective on Citigroup from $63.00 to $66.00 and gave the company an outperform rating in a report on Monday, June 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $69.06.

Citigroup Trading Up 2.2 %

Shares of Citigroup stock opened at $62.64 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47. The stock has a fifty day simple moving average of $60.66 and a 200 day simple moving average of $61.74. Citigroup has a 12-month low of $38.17 and a 12-month high of $67.81. The company has a market capitalization of $119.48 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 0.69 and a beta of 1.44.

Citigroup (NYSE:C) last announced its earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.39 by $0.13. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The company had revenue of $20.14 billion during the quarter, compared to the consensus estimate of $20.07 billion. During the same quarter in the prior year, the company posted $1.37 earnings per share. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, sell-side analysts anticipate that Citigroup will post 5.79 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.24 annualized dividend and a yield of 3.58%. This is a boost from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s payout ratio is currently 62.75%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in C. POM Investment Strategies LLC purchased a new stake in Citigroup in the second quarter valued at approximately $25,000. Beacon Capital Management LLC raised its position in shares of Citigroup by 85.5% during the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after buying an additional 212 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Citigroup during the 2nd quarter worth $31,000. Triad Wealth Partners LLC purchased a new position in Citigroup in the second quarter worth $32,000. Finally, Capital Advisors Ltd. LLC increased its stake in Citigroup by 93.2% in the second quarter. Capital Advisors Ltd. LLC now owns 572 shares of the company’s stock valued at $36,000 after acquiring an additional 276 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Company Profile

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.